Alphabet seeks to raise USD11b from additional bond sales: Bloomberg
Make us a preferred source
Make us a preferred source on Google
The news: Alphabet is selling over USD11 billion ($15.55 billion) in British pound and Swiss franc denominated bonds, one day after launching a US high-grade dollar bond sale, according to sources cited by Bloomberg.
The numbers: The offering in sterling will be a record GBP5.5 billion, including tenors of three to 21 years in addition to a 100-year note, sources told the masthead. The tech giant drew GBP30 billion on bids for the deal.
Alphabet received close to ten times orders for its GBP1 billion sale of the 100-year bond, sources told Bloomberg, drawing £9.5 billion in bids.
The Swiss offering will be a minimum of 2.75 billion Swiss francs across several maturities.
Both deals will reportedly price later on Tuesday.
The context: The European offering follows a seven-part debt sale that raised USD20 billion for the company on Monday.
Alphabet’s rare sale of 100-year bonds marks the first time a tech company has made such an offering since the dotcom boom in the 1990s.
Alphabet’s debt spree comes after the tech giant reported annual revenue above USD400 billion for the first time and said it plans to spend up to USD185 billion this year to finances its AI ambitions.
